5 “Best” Open-Source Crypto Wallets (May 2024)

A crypto wallet allows users to store, send, and securely receive cryptocurrencies. It can be a software and/or hardware wallet where you store the public and private keys that give you access to crypto assets.

An open-source wallet is one whose original code is freely available for anyone to review, audit, and contribute to. This helps ensure the wallet is secure and reliable, as potential vulnerabilities can be quickly identified and addressed. Moreover, with the source code of an open-source wallet available for all, anyone can use it to create their own wallets.

Open-source wallets are usually more flexible because they can be customized to fit the needs of their users. They allow users to tailor the wallet to their specific needs and preferences. Additionally, open-source wallets are often free to download and use, which makes them an excellent option for those on a budget.

Overall, open-source crypto wallets offer several advantages and benefits that make them an excellent choice for a wide range of users. So, if you're looking for a secure and reliable wallet that is also flexible and customizable, let's check out the best options available for you.

1. Mycelium

Mycelium is a popular open-source cryptocurrency wallet in the industry. It is a widely used Bitcoin wallet that has been around since 2012 and combines enterprise-level security along with a user-friendly interface that is easy to navigate for even inexperienced users.

Available for Android and iOS devices, Mycelium is known for its security and privacy features. It is a popular choice among cryptocurrency users because it is also non-custodial, allowing users to control their private keys.  This is important because they retain complete control over their funds.

Mycelium also offers a range of advanced features, such as multiple types of accounts, support for hardware wallets, integration with trusted third-party services, and its very own decentralized exchange called “Mycelium Local Trader.” However, there is no desktop version, and it is only for Bitcoin.

Overall, Mycelium is a highly respected and widely used open-source mobile wallet that is well-regarded for its security, privacy, and user-friendliness.

Click Here to Download the Mycelium Wallet

2. MyEtherWallet

MyEtherWallet (MEW) is an open-source, client-side cryptocurrency wallet that allows users to interact with the Ethereum blockchain. Through its multichain browser extension, called Enkrypt, MEW users can also manage assets on other blockchains, including BSC, Polkadot, Polygon, and Optimism.

It is available for free and can be used to store various cryptocurrencies thanks to supporting ETH and ERC20 tokens. It is a popular choice among cryptocurrency users because it is easy to use and provides a high level of control over private keys. MEW is also known for its security features, such as support for hardware wallets. You can set it up as a web-based interface or as a mobile wallet.

Like Mycelium, one of the main advantages of MEW is that it is an open-source wallet, which means that the code is publicly available and can be independently audited by security experts. This helps ensure that the wallet is secure and that hackers can exploit no hidden vulnerabilities.

In addition to its security and privacy features, MEW is also known for its user-friendly interface and wide range of features, including the ability to manage multiple accounts, view account balances and transaction history, authentication via PIN or Face ID, and interact with decentralized applications (DApps). MEW users can also stake ETH and purchase and manage blockchain-based ENS domains.

It is constantly updated with new features and improvements, making it a popular choice among Ethereum users. Overall, MEW is a widely respected open-source wallet that is a popular choice for managing and interacting with the Ethereum blockchain.

Click Here to Download the MyEtherWallet

3. Electrum

Electrum is a free, open-source crypto wallet that supports Bitcoin and other popular cryptocurrencies. It is one of the most popular wallets in the crypto community and has been around since 2011. Electrum is easy to use and provides a high level of security, making it an excellent choice for beginners and experienced users alike.

Built exclusively for Bitcoin, the Electrum Wallet can be used on desktop and mobile or with various hardware wallets. It also provides open-source apps for PC, Mac, Linux, and Android devices. You can use Electrum for both cold wallets and hot wallets. However, unlike other wallets, Electrum does not support Ethereum or other altcoins and won't connect to the latest dApps or enable trading on DEXs.

This lightweight Bitcoin wallet allows users to control their private keys and sign and verify messages. In addition to its security and privacy features, Electrum is also known for its user-friendly interface and fast transaction speeds, thanks to support for Lightning Network, which makes it a popular choice for Bitcoin users.

Overall, Electrum is a widely respected open-source Bitcoin wallet that is well-regarded for its security, privacy, and user-friendliness.

Click Here to Download the Electrum Wallet

4. BitPay Wallet

Another popular open-source crypto wallet is BitPay, which is available on various platforms, including iOS, Android, Windows, Mac, and Linux. Previously known as Copay, Bitpay wallet is one of the most popular Bitcoin wallets because it is easy to use and provides high security. It also allows users to easily create and manage multiple wallets, which is ideal for people who want to use Bitcoin for both personal and business purposes.

Launched in 2015, Bitpay wallet allowed many businesses to accept Bitcoin as payment for the first time. As the name suggests, BitPay, a leading Bitcoin payment service provider, develops and maintains this free cryptocurrency wallet. It uses the Bitcoin Payment Protocol (BPP) to ensure users don't send cryptocurrency to the wrong addresses.

It offers a range of advanced features, such as support for hardware wallets and managing multiple accounts by creating multiple private keys in the same wallet. Moreover, it is multi-signature, meaning more than one user can use the same wallet.

However, there is no two-factor authentication security feature, and it has also been slow to help users with issues. Still, it is used by cryptocurrency enthusiasts and professionals alike.

Click Here to Download BitPay Wallet

5. Alpha Wallet

Alpha Wallet is a free and open-source cryptocurrency wallet that allows the self-custodial of digital assets. The wallet is available for Android and iOS devices, as well as for web and desktop. This mobile wallet uses Secure Enclave to provide users with cold wallet-grade security.

It supports ERC20, ERC721, ERC1155, and ERC875 natively. This multichain Ethereum wallet can store all popular Ethereum-based networks, including Polygon, Binance Smart Chain (BSC), xDai, Fantom Opera, Avalanche, Optimistic, Arbitrum One, Heco, ARTIS sigma1, and more. This wallet further supports NFTs and allows users to interact with DeFi.

Alpha Wallet optimizes public chains by creating a layer of off-chain solutions that act as a bridge between the public chains and dApps to address the privacy, scalability, and usability issue in crypto. Additionally, you can enjoy the tokenization features that help businesses create and tokenize items to be valued, stored, and used on the platform.

Widely used for its security, privacy, and user-friendliness, Alpha Wallet is a popular choice for managing and interacting with various cryptocurrencies.

Click Here to Download Alpha Wallet

Final Word

Many different types of cryptocurrency wallets are available on the market today for you to store your crypto and interact with dApps. However, not all of them are created equal. It's important to consider factors such as security, ease of use, and features when considering open-source wallets.

The wallets listed above are all great choices for those looking for a reliable and user-friendly option. However, it's ultimately up to the individual to decide which is best for their needs.

Overall, always practice good security habits, regardless of your wallet. This includes keeping your software up to date, using strong passwords, and backing up your data. And by following these simple steps, you can help keep your coins safe and secure.